HomeMy WebLinkAbout0232_0047ORDINANCE AUTHORIZING TEL ISSUASCB OF B033)3
Al ORDINANCS OF THS CITY OF GMBcMTO Ng TICX" v AUTHOR--
ZZING TRE ISSUARCE OF BONDS IN TEM PRINCIPAL SUFE OF $55*000.00
DLSIGNATED AS CITY CF GBORM-TOWS S;LSCTRIC LIGHT BOTWSW
FOR THS FORPOSE OF IMPROYEINOt Tim CITYIS XLECTRIC LIGHT PLANT
AND POWER SYST * PRESCRIBING THE FORA[ OF Tilt SAID BOWS ANI►
TEL T. RU43 A14) COADITION3 THEREOF* AIW TUN FORK OF T" COUPI ONS,*
AAD PROVIDI14 THAT THfu SAID BU D4 bRALL Big PAID FROM THR R,IVE-
f XUE AND ILCUHS OF TIS SAID CITY'S ELECTRIC LIGHT PLANT AID
kOdEB 8-fiThXq AND SLCUREC)BY A WRTOACE ON ALL OF THE SAID
ELECTRIC LIGHT AND POW R SYMM AND THE NET RiTUMS TO BE DT;.,
RIYE,j FROM TER OPPERATION THEREOFI SHACTING 11ROVISION3 NIXES
ARB AICD LiCIDLIT TO T'11E PROVISIONS OF THIS ORDIJANCE= AND
DaLAAING AN WERGEMYs
WHEREAS„ at an elsetlon held in and for the said oit,y on, the
E3rd 4AY of JWW A* D. 1936, ander a resolution passel by- the City
Council of the said City on the IM day of Mq, 1936# arA at anther
slsetion held in and for said City an the 2141 day of Jly A* D. 1936*
under a resolution, of the City Couno it of the said C i tj of dat4 JUs
29th. 1936x, that at scab of the said elections the qualified voters
therein* by a ma j or i fir Prot s „ authori ae d the issuance of the b►ere in-
aftor dssorlbed bordx ands
AREAS # the City Councils of the said Mir ir deeas it alvi aabls
that the said City lseus the maid bungs to the extent of the sus
of Piftj,!ofits Thausand Dollars, ($56,000,00) bearing interest from
data at three peroentu0e (3p) per a0=9 eaturiZg aerially, aa in
the principal sun of one thoussnd dollars (11000*00) eaoh, as more
felly here inaf ter set out, THEEURRe
So it ordained by the 01ty Council of the City of fto xge toarni,
Texas$
SrCTTOW it That, in order to barrow the salt sure of Fifty-fivo
THOUSAND DOLLARS (3580000.00)0 for the purpose of improving the
City's existing light plant and power system,, the City Council. of
The City of Georgeto & Texas,, by ♦ictus of authority expressly
oonferred by the qualified electors of said. City, at the aforesail
s is s t ions, and pursuant to the General Laws of the Stats of Te xe s,
t►3